Shares of Zoom Video Communications (NASDAQ:ZM) climbed 9% on Monday, as COVID-19 case counts surge within the U.S. and all over the world.
Greater than 3.eight million Individuals have contracted COVID-19 and over 140,000 have died, in keeping with information compiled by Johns Hopkins College. On a worldwide foundation, these figures rise to 14.6 million and 608,000, respectively. With the illness spreading quickly in lots of areas, well being officers warn that many extra individuals are prone to get sick within the days and months forward.
Even because the U.S. economic system makes an attempt to reopen, many companies are permitting their workers to do business from home with a purpose to sluggish the unfold of COVID-19. Moreover, a rising variety of colleges plan to supply digital courses within the fall to guard college students and their households. As a number one supplier of videoconferencing technology, Zoom Video Communications helps to allow these developments.
After a powerful first quarter by which its income soared 169% 12 months over 12 months to $328.2 million, Zoom is forecasting strong full-year development. The corporate sees its fiscal 2021 income rising as a lot as 189%, to $1.eight billion. In the meantime, its adjusted earnings per share are projected to greater than triple, to $1.29.
With highly effective developments fueling its enlargement, Zoom is without doubt one of the fastest-growing companies on the earth immediately, and traders proceed to reward it with a better inventory worth.
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